Endowment and Restricted Gifts
Simply stated, the endowment is Prep's permanent financial reserve that is used to underscore and support the school's operating budget. The endowment provides a portion of its value each year in restricted funds available for campus support. Endowed funds are established by one or more donors with the intention of leaving the principal balance intact while the school utilizes the interest earned over the course of the year. Fairfield Prep has over 60 endowed funds to support a variety of programs such as student scholarship aid, technology resource enhancement, faculty professional development, student academic development as well as building and plant maintenance.
Restricted gifts are those gifts to Prep that go directly towards a specific endowed fund or toward an established operating program. Restricted gifts tend to be larger in size and can be paid over several years, as they are often used by Prep to support an academic scholarship, or other defined operating need, over an extended period of time.